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The Japanese Main Bank SystemIts Relevance for Developing and Transforming Economies$
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Masahiko Aoki and Hugh Patrick

Print publication date: 1995

Print ISBN-13: 9780198288992

Published to Oxford Scholarship Online: August 2004

DOI: 10.1093/0198288999.001.0001

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The Relevance of Japanese Finance and its Main Bank System

The Relevance of Japanese Finance and its Main Bank System

Chapter:
(p.353) 11 The Relevance of Japanese Finance and its Main Bank System
Source:
The Japanese Main Bank System
Author(s):

Hugh Patrick (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198288999.003.0011

This chapter examines issues in the design of good financial systems for developing markets and transforming socialist economies (TSEs) based on the Japanese experience. The effective transfer of the Japanese main bank system will depend on the financial architecture and policies being pursued in the transferring country. Developing economies and TSEs should take note of the following points: that the Japanese degree of financial repression was modest, real interest rates and other incentives were positive, there was competition, credit allocation was based on objective, efficiency-based criteria without outside interference, and corruption was low.

Keywords:   Japanese main bank system, developing markets, transforming social economies, financial system development, financial policy

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